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I  itaUSK  OK  UkI'RKSKNTATITF.S,  No.   7.] 

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HOUSE  OF  REPRESENTATIVES.  December  21.  I.SG.'i.— 
Referred  to  the  Special  (Committee  on  Currency,  and  ordered  to  be 
printed. 

[By  Mr.  IIeiskfll.] 


HESOLUTION^ 

Directory  to  the  Select  Committee  on  Finance. 

1  Reso/red,  That  the  Select  Committee  on   Finance  be  requested 

2  to  consider  the  following  project : 

3  Let  the  treasury    issue,  say  $4<H».(i(Ml.(i()(i,  of  eight  per  cent. 

4  bonds  to  run  30  years,  interest  payable  semi-annually,  in  legal 

5  tender  notes. 

G  Also  issue  $200,0()(),()iiO  of  legal  tender  notes. 

7  Ofter  if; 1 00  in  legal  tender  notes  and  $200  in  bonds  for  $300 

S  in  treasury  notes  now  in  circulation. 

9  Pledge  an  export  duty  for  the  redemption  of  the  bonds  and 

10  legal  tender  notes. 

11  This  would  speedily  absorb  $600,000,000  treasury  notes  now 

12  in  circulation,  and  leave  $200,000,01)0  legal  tender  notes  in  cir- 

13  culation. 

Note. — This  project,  offered  at  the  Augusta  convention,  ought,  per- 
haps, to  be  somewhat  modified  by  tlie  facts  developed  in  the  report  of 
the  Secretary  of  the  Treasury,  but  I  prefer  to  present  it  in  the  form 
the  author  gave  it. 


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